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Karnika Industries IPO Detail 2023

Karnika Industries IPO Detail 2023

Introduction

The Karnika Industries IPO will open on September 29 and close on October 4, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 25.07 crore through this public offering, consisting of 32.99 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 76 per share.

Karnika Industries Limited (“the Company”)

Incorporated in 2017. The company is an ISO 14001:2015-certified manufacturer, trader, and exporter of garments. They basically manufacture through job work all types of kids’ wear, i.e., shorts, joggers, capris, tees, rompers, sleepsuits, pajamas, winter wear, infant wear, etc.

Karnika Industries Limited has constructed well-established manufacturing units for the design, preparation of the sample, quality inspection, ironing, and packing of garments that are equipped with all the necessary hi-tech machines and tools that are required for a modern manufacturing unit.

They manufacture the majority of their products through job work; they are capable of undertaking bulk requirements for their clients and delivering them within the stipulated time schedule.

Objects of the Issue,

  1. To Meet Working Capital Requirement.
  2. General Corporate Purpose.
  3. To Meet the Issue Expenses.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth1,806.831,860.88378.14
Total Assets10,071.045,921.423,055.87
Reserve & Surplus896.80
Total Borrowings5,245.532,224.131,570.94
Total Revenue12,605.629,892.524,779.31
Profit After Tax826.74454.0181.61
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 32.99 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 1.66 lakh shares of the offering. While Beeline Capital Advisors Pvt Ltd will be the lead manager for the IPO, Skyline Financial Services Private Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.

Issue TypeFixed Price Issue IPO
IPO Price₹ 76 per share
Face Value₹ 10 per share
Market Lot1,600 Shares
Issue Size3,299,200 shares (aggregating up to ₹ 25.07 crores)
Fresh Issue3,299,200 shares (aggregating up to ₹ 25.07 crores)
Listing AtNSE SME

Market Maker detail

Market makerSpread X Securities
Market maker portion166,400 shares

Shareholding Pattern

Shareholding pre-issue9,100,300
Shareholding post issue12,399,500

IPO Reservation

CategoriesNo. of shares offered
Others shares offered50% of the net offer
Retail shares offered50% of the net offer

GMP: Karnika Industries IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates

The issue opens for subscription on September 29, 2023, and closes for subscription on October 4, 2023 (both days inclusive). The basis of allotment will be finalised on October 9, 2023, and the refunds will be initiated on October 10, 2023. In addition, the demat credits are expected to happen on October 11, 2023, and the stock will be listed on the NSE SME  on October 12, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateSeptember 29, 2023
Closing DateOctober 4, 2023
Basis of AllotmentOctober 9, 2023
Initiation of RefundsOctober 10, 2023
A credit of shares to Demat A/cOctober 11, 2023
Listing DateOctober 12, 2023

Lot Size: Karnika Industries IPO

The lot size of the Karnika Industries IPO is 1,600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,600 shares of ₹ 121,600.

ApplicationsLotsSharesAmount 
Retail (Minimum)11,600₹ 121,600
Retail (Maximum)11,600₹ 121,600
HNI (Minimum)23,200₹ 243,200

Promoters Holdings 

Mr. Niranjan Mundhra, Mr. Shiv Shankar Mundhra, and Mr. Mahesh Kumar Mundhr are the promoters of the company.

Pre-issue Shares Holdings100.00%
Post-issue Shares Holdings73.39%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationKarnika Industries Limited
6&6/1, Gurgola Ghat Road P.O. Salkia Howrah – 711106
Phone: 033-26558101
Email: [email protected]
Website: http://www.karnikaindustries.com/Default/Index
IPO RegistrarSkyline Financial Services Private Ltd
Phone: 02228511022
Email: [email protected]
Website: https://www.skylinerta.com/ipo.php
IPO Lead Manager(s)Beeline Capital Advisors Pvt Ltd

FAQs

The Karnika Industries IPO price is ₹ 76 per share.

The minimum investment size is one lot for retail investors. One lot of the Karnika Industries IPO contains 1,600 shares of ₹ 121,600.

The finalisation of the basis of allotment for the Karnika Industries IPO will be done on October 9, 2023, and the allotted shares will be credited to your demat account by October 11, 2023. Check the Karnika Industries IPO allotment status.

The Karnika Industries IPO shares listing date is October 12, 2023.

Click here for more FAQs.

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